ProPublica reported in March 2026 that credit bureaus are leaving far more errors on consumer reports since CFPB enforcement collapsed under the Trump administration. Experian resolved nearly 20% of consumer complaints in their favor in 2024 but less than 1% now. An estimated 2.7 million complaints went without relief since Trump took office.
Acting CFPB Director Russell Vought attempted to shut down the agency entirely. A federal judge blocked the shutdown, finding Vought's interpretation of the law 'faulty' and ordering the administration to continue funding the CFPB indefinitely.
The CFPB dropped active lawsuits against Capital One and Rocket Homes and froze investigations into Meta, Carvana, Mr. Cooper, and CareCredit. Consumer advocates estimate the changes cost Americans approximately $19 billion.
The CFPB was created after the 2008 financial crisis specifically to protect consumers from predatory financial practices. Its systematic dismantlement leaves ordinary Americans without recourse when banks, credit bureaus, and financial companies make errors or engage in fraud — while the companies that benefit from reduced oversight are major Republican donors.